Breach of fiduciary duty can occur when a fiduciary such as an Officer, Director, Agent, Executor, Administrator or Trustee obtains profit through self-dealing or causes losses through a breach of duty. A fiduciary owes the utmost good faith, perfect candor, openness, honesty and total absence of any concealment or deception. This is the highest duty imposed by law. The fiduciary duty can be formal or informal. It may arise from a relationship of trust and confidence.
Breach of fiduciary duty can take many forms, some of which are apparent and others which require examination of fiduciary accounts and transactions in detail. Court proceedings may be necessary to remedy these breaches of duty or to remove a fiduciary from his or her position. Breach of fiduciary duties remedies vary depending upon the situation. It is not always easy to determine whether a fiduciary has breached or acted improperly, especially where complex financial and business matters are involved.
We have extensive experience in these types of cases that allows us to evaluate a fiduciary's actions to determine the damages or a proper equitable remedy such as fee forfeiture or disgorgement. Review The Faubus Firm's selected cases for examples of significant wins involving fiduciary duties.